According to an interesting article Even Renters Aren't Safe featured on the NYTimes.com, though renters believed they were safe and had avoided the subprime mortgage crisis by opting to rent rather than buy it turns out they weren't as unaffected as they thought. Many renters are finding themselves in situations where the building or home they are renting is going into foreclosure. Though it seems unlikely that a rental property producing income would go into foreclosure, many rental properties throughout the United States are. Though analysts predict this problem to be predominately of lower to middle income markets, this problem is rapidly expanding nationwide. Furthermore, the article goes on to iterate the point that the housing crisis has effected New York City quite differently than throughout the country.
Read the entire article Even Renters Aren't Safe on NYTimes.com to find out how the New York City rental market compares to rental markets elsewhere throughout the country
Image Courtesy of NYTimes.com
149-12 17th Avenue
Whitestone, NY 11357
Asking: $699,000
Selling Price: $645,000
On the Market 2 Weeks
This Detached Legal 2 Family in Whitestone has Great Potential! The first floor features a Spacious 2 Bedroom Apartment with Living Room, Dining Room and Eat In Kitchen while the second floor features a 2 Bedroom Apartment with Living Room, Dining Room, Eat In Kitchen and Office! Home also features a Full Finished Basement, Attic, Private Driveway and Detached Garage all on a 33x100 Lot!! Visit CarolloRealEstate.com for more information
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Carollo Real Estate now with 3 offices in Queens and Nassau County. Houses, Co-ops/Condos, Commerical, Land, Apartment Rentals throughout Queens and Nassau County, New York.
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